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Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
 Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but involve relatively small steps or lack specifics to support a meaningful improvement in the short-term. There are entrenched structural issues affecting the performance of the power sector of India and the solution would require a sustained and disciplined policy focus.
Fitch Ratings further said in its latest report that, the Indian budget for FY15, the finance minister announced several measures for the power sector. These include an extension of the tax holiday for power projects to March 2017 from March 2015, which we consider to be positive for investment activity. The budget also called for the provision of adequate quantity of coal to power plants commissioned by March 2015. However, the budget lacked very specific measures detailing how this will be achieved.
Fitch believes that it will not be possible to raise the production of coal significantly within a year. Aside from inadequate domestic production, infrastructure bottlenecks such as rail infrastructure also continue to act as a constraint to ensuring adequate coal supplies to power plants. Among the announced measures is the rationalisation of coal linkages to reduce transportation costs of coal; while this is a good measure, we believe such a reallocation of coal resources would have operational issues and can take some time to achieve.
Domestic coal production is much lower than the requirements of the power sector, and hence we think the coal shortage at various power plants will continue. India's total coal based power capacity at April 2014 was around 140 gigawatts (GW). This is expected to increase by around 15GW per year, which would require an additional 60 million tonnes of coal. There needs to be a sustained and long term plan in order to consistently increase domestic coal production.
The new administration has intensified pressure on Coal India Limited to improve its coal delivery. At the same time, the agency understands the government may revive coal pooling (i.e. pooled prices by combining both domestic and imported coal) as the country will have to import higher quantities of coal to support demand given that domestic production may be slow to ramp-up.
India also has around 20GW of gas based power plants which are severely affected due to the low availability of domestic gas. The budget also focuses on the renewable sector - most notably solar - for which there is an allocation of INR10bn for setting up solar plants in a few states and solar power driven agricultural pump sets.
The entire ecosystem of the power sector - from generation to distribution - needs to be strengthened. The financial health of the various state utilities needs to be improved through tariff rationalization and by addressing transmission and distribution losses.
About Fitch Ratings
For 100 years, Fitch Ratings has been making the future a little more predictable through independent and prospective credit ratings, commentary and research. Our global expertise draws on local market knowledge and spans the fixed-income universe. The additional context, perspective and insights we provide have helped the world’s investors fund a century of growth.
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Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
Monday, 18 August 14
CFR SOUTH CHINA COAL SWAP PERFORMED WELL THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.45 (+0.66%) day on day and US$ 0.30 (+0.44%)&nbs ...
Saturday, 16 August 14
HIGH DEMAND OF IRON ORE SHIPMENTS PUSHED CAPE INDEX UPWARDS
COALspot.com: This week's freight market was buoyant with Cape and panamax index seeing a big jump pushing the BDI above 1,000 points week on c ...
Friday, 15 August 14
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
13-16 October 2014
Grand Hyatt Jakarta, Indonesia
Web Site
The country’s definitive ...
Thursday, 14 August 14
U.S. STEAM COAL IMPORTS REMAIN DOWN SHARPLY FROM HISTORIC HIGH IN 2007, SAYS EIA
COALspot.com: U.S. steam coal imports at power plants have fallen significantly from their peak level of more than 30 million tons in 2007 to less ...
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- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Romanian Commodities Exchange
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